White Paper

New White Paper Download: Budgeting to the Cyclical Nature of Patient Volumes

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April 27, 2018

This alternative way of budgeting for nursing units accounts for the cyclical nature of patient volumes. GE Healthcare Partners uses this methodology—along with its proprietary core and flexible staffing analytical model—to assist Nursing and Finance to better understand and plan for staffing needs.

Traditional Budgeting Can Sometimes Pit Nursing and Finance Against One Another

Developing the labor budget for nursing units can be a challenging task and will often pit nurse leaders against their peers in finance when in fact, it presents a great opportunity to collaborate and leverage the strengths of each discipline. In several of our recent consulting engagements, we have seen the evolution of the relationship between nursing and finance move from one of conflict to one of collaboration. This evolution brings with it increased awareness and higher levels of empathy towards the perspective of the other discipline.

The modified budgeting process described in this white paper serves as an ideal opportunity for nursing and finance to learn from each other. It also raises the level of accuracy of the established budget, and increases the buy-in of the nurse leaders being held accountable to achieve budgeted targets.

To download a PDF copy of this white paper, please click the button below: